Numbering Code	U-ECON00 20101 LJ43	Year/Term	2022 ・ First semester
Number of Credits	2	Course Type	Lecture
Target Year	From 2nd to 4th year students	Target Student
Language	Japanese	Day/Period	Wed.3
Instructor name	WAKAI KATSUTOSHI (Graduate School of Economics Professor)
Outline and Purpose of the Course	Learning the theoretical system of consumer behavior, corporate behavior, and fully competitive markets.
Course Goals	Being able to solve practical theory questions of consumer behavior, corporate behavior, and fully competitive markets.
Schedule and Contents	The following topics will be taught for 2 to 6 weeks each. 1. Consumer theory - Preferences and Utility Functions - Utility Maximization and Demand Functions, Demand and Income Change, Demand and Price Change, Elasticity of Demand - Spending Minimization and Spending Functions, Shephard's Lemma, Roy's Identity equation, Slutsky Equation - Price change and consumer welfare 2. Corporate theory - Production Function, Profit Maximization, and Supply Functions - Cost Minimization and Cost Function, Cost Function and Relationship between Supply Functions - Hotelling's lemma, Shepherd's lemma 3. Partial Equilibrium Theory - Short-term Market Equilibrium, Social Welfare - Long-term Market Equilibrium 4. General Equilibrium Theory - Competitive Equilibrium in a Pure Exchange Economy: Pareto Efficiency and the Thesis of Welfare Economics - Production Efficiency: Production Feasibility Frontier and Limit Deformation Rate - Competitive Equilibrium in the Production Economy In addition to these topics, issues of labor supply and two-term resource allocation will also be covered if time allows.
Evaluation Methods and Policy	Evaluation is based on results of regular exams
Course Requirements	Differentiation of multivariables and integration of single-variables.
Study outside of Class (preparation and review)	Students should prepare from textbooks before class and solve practice questions after class.
Textbooks	Textbooks/References	荒井一博 "ミクロ経済理論" (有斐閣), 武隈愼一 "演習ミクロ経済学" (新世社)
References, etc.	神取道宏 "ミクロ経済学の力" (日本評論社), 武隈愼一 "ミクロ経済学" (新世社), 奥野正寛 "ミクロ経済学" (東京大学出版会)